The league's governing body is entitled to half of all ticket revenue from the play-offs - before costs - and are in line for a £1million-plus payday should Rangers reach the final

Rangers' recent run of form is timely with the play-offs looming (Photo: SNS Group)

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The SPFL is set to net a sensational £1million-plus windfall from Rangers as a result of a clause in their regulations over play-off gate money.

The governing body is entitled to 50 per cent of all ticket revenue from the knockout matches – before costs – and it will bring in a sum beyond their wildest dreams.

Remarkably, Rangers are on course to pay out more than double the prize money of £342,000 they will receive if they finish second and go on to reach the Premiership Play-off Final.

Assuming the Light Blues take on and beat Hibs in the semi-final and then face either St Mirren, Motherwell or Ross County, two 50,000 Ibrox crowds will bring in well in excess of £2million.

Not only will Rangers have to hand over half of this revenue, they are required to do so within seven days of each match.

However, Rangers will have to wait until August to get the bulk of their entitled prize money - £232,000 of the £342,000 for finishing runners-up.

Regulation C26 states: “A levy of 50per cent of the monies (gross excluding VAT) received or receivable by the Home Club for all Play-Off Matches played in the Premiership/Championship PlayOff Competition from all admission charges paid and payable to and for the relevant Play-Off Match shall be paid by the Home Club to the Company within seven days of the date on which each Play-Off Match is played.”

The stinging clause will also hammer Hibs who will also have to hand over half of their ticket revenue from their involvement in the play-off – and that could be over £200,000.

They had to do the same last year when they lost to Hamilton Accies although the parachute payment of £500,000 eased the pain.

Ironically, chairman Rod Petrie was instrumental in pushing through this clause when the play-off procedure was introduced by the SPFL.

It was revealed last week that Newcastle United are due a payment of £500,000 if Rangers are promoted under the terms of a deal agreed by Derek Llambias, the ousted Chief Executive and former Magpies managing director, over the loan of five players.

Only Haris Vuckic has played regularly with Remi Streete lasting less than 45 minutes and the other three Kevin Mbabu, Gael Bigirimana and Shane Ferguson are all injured and unlikely to play at all.

So, incredibly, it is going to cost Rangers over £1.2million to get back up to the top flight.

On top of that, the SPFL is still involved in a battle with the Light Blues over the payment of a £250,000 fine imposed on the oldco for breaching EBT regulations.

The governing body claims that former chief executive Graham Wallace agreed liability on behalf of the newco but in a statement last December, Rangers said they were fighting this.

The SPFL then indicated they would withhold prize money from Rangers to cover the payment of this fine but the Ibrox club subsequently appealed to the Scottish FA.

A judicial panel has yet to meet to decide the matter and in the interim the SPFL has continued to make the staggered payments.